http://emirates-business.ae/tim-sloan-is-not-turning-around-wells-fargo-at-all/
9 replies (most recent on top)
If you have been with Wells Fargo 35 years you know that the original WF doesn’t really exist anymore. It was merged with 1st Union in Minneapolis in the nineties. The name was kept for the brand equity. Anything can happen. Who would have thought Merrill Lynch would get swallowed up?
I for one would LOVE to see Wells get broken up and sold for sc-ap, simply for the fun of watching certain smug faces when
the announcement is made. But I haven’t heard anything to that effect. In fact certainly marketing budgets are being increased. Anybody can post anything on the internet. I need a little more meat than “that’s what I’m hearing “ before I get my hopes up b
Here is a comment for the 35 years of tenure employee. Your job is not secured either. They are laying off employees with the same tenure as you. No ones position is safe. The corruptive culture is kept alive and thriving by long term employees. It is the Wells Way.
I think Wells will be around a long time. I have been with the company over 35 years. Things are bad but will turn around. The downsizing will continue. Sad but it is a correction of past bad deeds and just overlap of businesses. They said in the past they may sell businesses, maybe something like payroll or some of the business they bought from GE Capital. They could sell a group of branches in a few states. I think the hard part is not knowing, really taking a toll on team members. I have never posted on this site before and just want to wish everyone the best. No matter what happens if you stay or go good luck!
That’s an interesting rumor. Any chance it isn’t just based on speculation?
That's what I'm hearing after sudden halt to layoffs for a while. That often means buyout, merger, etc. Wells Fargo is bleeding out and is looking for life rafts.
Awful leadership, too big to manage, and now going down in flames. I wonder which vulture competitors are salivating over the carion.
Will the bank be sold for parts? If yes when?
Tim Sloan would have been next in line for the CEO position regardless. All the scandals did was speed up the process by a year. And all these layoffs will do is create opportunities to hire younger people at lower salaries (after slightly rewriting the job descriptions, of course), and move jobs offshore. It’s all smoke and mirrors.
Couldn't agree more! And the rich (and unethical) keep getting richer, while the ethical minions get let go -- right during the holidays, losing healthcare/benefits, and having to deal with the Wells Fargo STAIN on their resumes.
These are LIVES you're dealing with, Wells Fargo. Your team members should be your MOST important customers -- clearly you don't care about them OR the fact that they are (could have been) your most important PR.
We understand it's a business. But at least be honest and admit that YOU ran the business into the ground with your unethical "leadership" -- don't try and blame it on changing business landscape.
LIES. NEVERENDING LIES. Every Town Hall is empty rhetoric. Everyone knows it. You smile and laugh all the way to the bank with your fat compensation backed by golden parachutes. thinking we're all stupid.
Treat team members with RESPECT during this brutal process you've caused. We're not stupid and can see right through your disingenuous nonsense.
e.g., Neverending emails about Community Support Campaign -- a desperate attempt to boost $$ for positive external optics. Asking people you are terminating to GIVE, GIVE, GIVE before you AXE them and kick them to the curb is DISGUSTING!!! How about YOU give from your astronomical bonuses and massive salaries???
How do you sleep at night???!!!
Tim Sloan was placed in his role to make shareholders and customers think they are good people inside the bank not committing misconduct. But he's one of those people who were misconducting themselves.